Weddings, friends and the Circle of Life

This weekend I had the opportunity to do two very special things:

• Attended an amazing wedding of my friends Bryce & Annika. They have somethings in common with Anthony and I. They are a mixed nation couple as well (Swedish & US) as Anthony and I are (UK & US). It was a gorgeous ceremony on Naples Island and a fantastic reception.
• Crewed for a triathlon team for a relay. The Long Beach Triathlon occured this morning and Dave, Julio and Scott all did one leg of the relay. Their time was just under an hour and half. It was amazing to see the dedication of the participants. Not to mention they were all up around 4 am or so to be in position by 6:30 am or so. I met Chris McCormack http://en.wikipedia.org/wiki/Chris_McCormack_(triathlete) who was super cool and very chill. Talk about being in front of the pack - he did this tri in under 53 minutes.

What do these two things have to do with small business and this blog? Well, both events were directly related to clients. Thankfully, they both have become more than just clients, they have become friends and advocates for Black Marble Consulting and me personally. Also, it was amazing to meet Chris (though it was just for a couple of minutes), he is an inspiration for performance in all things - not just athletics. We are all part of the Circle of Life in our business, athletic and personal lives.

Twitter like a business plan?

Ok, so why is Twitter like a business plan? Because both are ultimately burst style communications.

People like to think that a business plan is an involved document with labyrinthine financials, compelling marketing or segment analysis, strong managment bios and a fully articulated executive summary. The irony is that while some of that may be true, the best business plans I have written and have been funded are relatively short (usually less than 25 pages) and as Guy Kawasaki says in The Art of the Start, emerges from a mantra. I have spoken about this before in the blog. The mantra is really a core statement of purpose and explanation for the business model.

Twitter requires you to get your thought across in 140 characters. Can you express your business in that short a window (including spaces & puncuation)? I can. Black Marble Consulting: helps innovators transform their ideas into strategic documents. That is 64 characters and eight words. So remember to try to distill your ideas into clear, burst style communciations. You can always talk more, but if you are inefficient communicating an idea from the get go, it only annoys and confuses your listener. Go ahead and try it! When you have an idea you need to get across - be brief, be clear and be passionate.

Cross connections

So I thought I would make an entry which connects to my LinkedIn profile: http://www.linkedin.com/in/setheaker

Feel free to connect!

Are we on the map?

Businesses need to be identifiable. As consumers we need to be able to locate those that offer both products and services. Is your business easily locatable? Can customers find you in a myriad of ways? Online, print, newspaper, blogs, etc. . ? In today's crowded marketplace, you need to be on as many platforms as possible. Look to your Chambers of Commerce, City Clerk or other resources to ensure that you have a valid business license and can be on printed materials that these organizations produce. Look to be on the map!

Creating excitment

When working with businesses, it is critical to not only understand the product or service, but you have to be an advocate for the industry. When working on a business plan for Diabless fashion on Melrose Ave. in Los Angeles I had to understand the nuances of women's retail and how clothing is selected, designed and imported. It was a fabulous education which has subsequently helped me connect other insights for clients.

One of the most powerful steps in being a consultant is to be excited and enthusiastic about the business. If you don't want to help the client, why are you working for them? Enthusiasm breeds yet more energy and drive for the client. They reflect and amplify these emotions not only among their own team, but also to their customers. So go ahead, get excited!

Inventory Management

One of my clients, Main Street Cyclery is a retail bike shop on Main Street (obviously) and we are nearing the week of Interbike - the annual show for all things cycling. This year it is in Las Vegas and there are hundreds of vendors, distributors, retailers and enthusiasts all in attendance. For more information go to www.interbike.com

Anyway, one of the issues we have this time of year is the management of inventory. New 2010 models are coming out (though only some are available now, the rest in January or April depending on brand and type), some 2009 models are sold through and some 2009 have too many leftovers (think upcoming fall sales!) so inventory is a critical issue. My client, Dave has a simple strategy "Don't change a winning game, change a losing one." Seems simple right? LOL - if only.

Some models we know do well: beach cruisers for example. Why? Because our shop is three blocks away from the beach. You can see the Seal Beach Pier from our front door. Great! But which cruisers are the winning game? We look to sales volume, profit margin and the distributor cost of the product. There is also the opportunity cost - there are only so many bike "slots" in our shop for display product. Dave likes an open air feeling in the shop. This gives it a great customer experience, but allows us to showcase a smaller amount of product. Still seems simple, right?

Then we enter the world of fortune telling! What colors are hot? Will fixed gear continue to be a fast moving segment or will it slow? In the world of BMX, should we continue to have some retro bikes, some entry level or should we move to something more high end in terms of construction. Do we get behind which new models? What about the technology - is it still in early adopter phase or is it mature? What about changing demographics in the cycling world? Will more people go for bikes as alternative transportation rather than stylistic statements on their "bling" or fashion?

This is part of what I love about my consulting practice - there is a myriad of opportunities to analyze, evaluate and then predict future behavior. You win, the business continues to be profitable and inventory is "Just in Time" like my grad econ professor liked to advocate for. You lose, you end up with product not giving you the margin you need, a clutter of merchandise and a poor customer experience. Whether or not you are in retail, service, goods, transport or other items, inventory management can be a huge factor - even if it is just your office supplies! So take a moment and think about inventory. The more you control it, the better it will perform for you!

Decisions on Lifting

So I have made a decision - I am going to start training for a bodybuilding competition. That means training every day, radically changing my diet and focusing on only value added activities not only for me, but for my clients. I will simply have to modify my time to make the gym even more of a priority. I have to add about 10 lbs to my bulk mass (currently I am about 230), then cut down to 215 or so. This photo is from 2004 with Anthony and I at one of my best friend's (Jim) former house in Atlanta. One of my best looking body times. Now I will have to exceed that a lot. I am super pumped up about it!

Glee

So there is this new program called "Glee" on TV this fall. It is relevant to local business because it actually has something to do with the local school district (Los Alamitos Unified) and also the Orange County High School of the Arts. You can read more about it here: http://www.ocregister.com/articles/ralph-school-choir-2561274-high-matt

What is most interesting to me though is the impact that passion has in life and success. It is a reminder to all people who are entrepreneurs - you should love what you do, be passionate about it and love it in a deep way. To feel otherwise will not allow you to embrace success. So even if you don't tune in on Glee, remember to behave in a "gleeful" way every day with what you do. After all, we are only here for a visit.

Truth and Lies

I recently had an experience that reminded me about the importance of integrity. The world we are in (at least the developed world) has become remarkably "flat" - in the sense that most facts about people are relatively easily and quickly verifiable. If you have ever been published, photographed, written content or submitted your work, you are likely "googleable" - plus, what is the point of fabricating about yourself?

In business as in life, the consequences can be dire. You can lose not only a friend, but potentially contracts, jobs and even your own self worth if you are not careful. We all may exagerate or enhance who and what we are, but outright fabrication is truly a karmic irony. I also wanted to share love and fondness for two of my friends who I haven't seen since I moved to the West Coast - Brad and Mark. The three of us were like the three muskateers of fundraising for the Sapphire Fund and I miss them. Both are men of great integrity and I am happy to be in the "three monkeys pose" of See, Hear and Speak No Evil! Miss you guys! So remember gentle reader - honesty is the best policy!

A start of a new week - affirmations

In business it is often key to reflect on abundance and risk. We as entrepreneurs take risks in the pursuit of both passion and abundance. When each week starts, I try to focus on a few key affirmations which help focus my activities for that week. After the legislative mixer and so many opportunities, the following seem key:

• There is more than sufficient time and skill to accomplish all that needs to be done.
• My business attracts money and success.
• My clients expectations are always exceeded and their business increases in both sales and profits.
• More than enough resources are available in all aspects of my life.
• Creativity and insight flows freely to all projects and activities I touch.
• Work is filled with joy and fun with lasting success.
• Participation in the community leads to positive change and even better results for all of my friends and neighbors.

Go ahead and give it a try - find your own affirmations and start your week out right!